I'm really surprised by the reaction to the Apple Watch amongst apple-goers. Sure, it's a limited device, but it's also a version 1 device. It's a new product category that has so many possibilities. Apple watch + 5 years of real world R&D is going to be an amazing product.
The Apple Watch won't be for everyone right away. Most Apple products aren't. The iPod started as being exclusive to Macs. In 2001, that user base was significantly smaller than today. It was an expensive product for a niche market that Apple iterated over a few development cycles to become a smashing success.
The iPhone in 2007 was limited on a lot of features we take for granted today. The original iPhone didn't even have the iTunes music store on it! You had to connect it to iTunes via USB/30-pin connector to get your music on it.
Sure, the Apple Watch is companion device NOW, but it won't always be. I think Apple knows a lot of people won't be interested in Apple Watch v1. They are bringing to market a device for the Apple ecosystem and existing users, and will release iterative versions down the road. I have no doubt in my mind a stand-alone, GPS enabled, 4-day battery watch is on Apple's roadmap.
But they have to start somewhere, and IMO, this is a good place. Having an install base of 75 million iPhones 6s (just this past quarter) is an impressive place to market this device. If they sell to even 2-3% of that install base, you're looking at 2-3 million for a v1 product that then gets stats on usage, feedback, app development, etc that can then be implemented in further devices.
I understand people not caring for the Apple Watch at the moment. It's probably not designed for you...yet.